The funds will be used to support further exploration and working capital.
The research was conducted as part of the exploration program completed during the 2015 Financial Year.
Exploration program
Earlier in the month field programs commenced at the Speewah Dome property in Western Australia, with road works and sampling underway.
King River said that a recent field trip and new desktop studies have identified new structures for detailed investigation.
A new geophysical (VTEM) basement conductor target has been identified in the north of the Speewah Dome.
Read the press release here.
Timeline
Speewah Metals Discovers Highest Ever Gold At Speewah Dome 2013
Speewah Metals’ renewed copper/gold focus delivers new targets for Speewah Dome 2012
King River Copper Ltd. – Speewah Metals is building a strong copper-gold exploration case for its Speewah Dome Project, highlighting 10 additional conductor targets. Re-modelling and interpretation of VTEM data also supports the other 13 litho-structural and geochemical targets that were previously identified.